markrivest
Short

Possible SPX Top in Place

SP:SPX   Der S&P 500 Index
201 2 8
Today 11/29/16 the Nasdaq Composite             made a new 2016 high that was unconfirmed by the other two main US stock indices; DJIA             and SPX             . This combined with the VIX             non confirmation, FTSE             bearish pattern and evidence of a significant Copper             peak indicate US stocks may have reached an important top.

The SPX             high on 11/29/16 may have been the termination point of a rare Running Flat. In this formation wave (c) fails to exceed the termination point of wave (a). This is a very bearish pattern and if correct the SPX             could quickly drop significantly below the bottom labeled (b) at SPX             2198.

Stop loss point for shorts is a move above SPX             2210.50.

If the SPX             closes down on 11/30/16 I will post a daily SPX             chart with down side price target.

Mark
Mark,

Pattern in place in the S+P is also a textbook" Reverse Head and Shoulder's "pattern, with 2200 Base Support.
2210 is resistance, and a move above that neckline could bring a quick move up to 2219-2220

Stock futures are rallying, as there is talk of an OPEC agreement, with crude oil futures spiking higher by $2.00

Joe
Antworten
markrivest The_Unwind
Hi Joe

Thanks for the comment. The move up in S&P futures looks like the H&S pattern is correct.
If the stop level I noted in the post is hit the SPX could rally to the next Fib resistance at SPX 2219.

Mark
Antworten
DE Deutsch
EN English
EN English (UK)
EN English (IN)
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Startseite Aktien-Screener Devisen-Screener Krypto-Screener Wirtschaftskalender So funktioniert es! Chartmerkmale Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Hilfe & Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Meine Support Tickets Support kontaktieren Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden